The Indian Stocks markets carried forward the momentum as Sensex and Nifty hit fresh life-time high nearly every day of the week. A record-setting week was carried out with benchmark indices closing at new peaks.
Over the week, the Sensex gained 1.6% and the Nifty rose 1.3 %. More than 110 stocks, including Adani Ports, Bharti Airtel and Bharat Forge hit fresh 52-week highs on NSE Nifty index on Friday.
Benchmark indices clocked record highs as the BSE Sensex closed at 33,686. Stellar capital inflows and services PMI data along with fair corporate earnings led to the index surging by 1.6% during the week. Most of the sectoral indices logged the week on an optimistic note with stocks from realty sector and telecom sector gaining the most.
Bharti Airtel, ICICI Bank, Maruti Suzuki, Vedanta Ltd and Glenmark appeared with good quarterly results which supported indices to scale record highs. In PSU bank, Punjab National bank came out with its grand Q2 numbers that beat market expectations lifting PSU bank index higher.
On account of the bulk deal of Bharti Airtel on the last day of the week, Foreign Portfolio Investors (FPIs) were net sellers of shares valued of Rs 7100 crore. FPIs bought Rs 2,600 crore between Monday and Thursday whereas domestic Investors sold shares worth Rs. 354.42 cr during the week.
As a major landmark, the World Bank elevated India by a whopping 30 notches at 100 in the World Bank’s Ease of Doing Business rankings and its effect on stock rise continued through the week. Indices gained in three out of five trading days of the week.
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